Insider Selling: Centessa Pharmaceuticals (NASDAQ:CNTA) CTO Sells $840,000.00 in Stock

Key Points

• Centessa Pharmaceuticals CTO Tia Bush sold 35,000 shares at an average price of $24.00, totaling $840,000.00, resulting in a 22.36% decrease in their ownership stake.
• The company's shares traded at $23.97 with a market cap of $3.21 billion, and it has a current ratio of 10.11 and a debt-to-equity ratio of 0.32.
• Analysts hold a consensus "Buy" rating for the stock, with a target price of $32.38, despite recent earnings misses.

Centessa Pharmaceuticals PLC Sponsored ADR (NASDAQ:CNTA - Get Free Report) CTO Tia Bush sold 35,000 shares of the company's stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $24.00, for a total transaction of $840,000.00. Following the transaction, the chief technology officer directly owned 121,503 shares of the company's stock, valued at $2,916,072. This represents a 22.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Centessa Pharmaceuticals Stock Performance

Shares of CNTA traded up $0.63 during trading hours on Wednesday, reaching $23.97. 968,723 shares of the company traded hands, compared to its average volume of 1,018,440. The stock's fifty day moving average is $17.88 and its 200 day moving average is $14.94. The stock has a market cap of $3.21 billion, a P/E ratio of -13.39 and a beta of 1.47. The company has a debt-to-equity ratio of 0.32, a quick ratio of 10.12 and a current ratio of 10.11. Centessa Pharmaceuticals PLC Sponsored ADR has a 1-year low of $9.60 and a 1-year high of $24.13.

Centessa Pharmaceuticals (NASDAQ:CNTA - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.38) EPS for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.03). Equities research analysts anticipate that Centessa Pharmaceuticals PLC Sponsored ADR will post -1.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Centessa Pharmaceuticals

Institutional investors have recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. lifted its stake in Centessa Pharmaceuticals by 35.8% in the first quarter. Adage Capital Partners GP L.L.C. now owns 6,954,000 shares of the company's stock valued at $99,999,000 after acquiring an additional 1,834,973 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Centessa Pharmaceuticals in the 2nd quarter valued at about $16,052,000. Commodore Capital LP lifted its stake in Centessa Pharmaceuticals by 39.3% in the 2nd quarter. Commodore Capital LP now owns 3,298,289 shares of the company's stock valued at $43,340,000 after purchasing an additional 930,711 shares during the last quarter. Stempoint Capital LP grew its holdings in Centessa Pharmaceuticals by 113.3% during the second quarter. Stempoint Capital LP now owns 1,265,672 shares of the company's stock worth $16,631,000 after purchasing an additional 672,337 shares during the period. Finally, Armistice Capital LLC bought a new position in Centessa Pharmaceuticals during the first quarter worth about $6,730,000. Institutional investors own 82.01% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CNTA. Oppenheimer initiated coverage on Centessa Pharmaceuticals in a report on Friday, August 29th. They set an "outperform" rating and a $40.00 price objective on the stock. Lifesci Capital raised Centessa Pharmaceuticals to a "strong-buy" rating in a report on Wednesday, September 3rd. Wall Street Zen cut Centessa Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Chardan Capital reissued a "buy" rating and set a $30.00 price objective on shares of Centessa Pharmaceuticals in a report on Tuesday, August 12th. Finally, Truist Financial started coverage on Centessa Pharmaceuticals in a research report on Monday, July 21st. They set a "buy" rating and a $30.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $32.38.

Centessa Pharmaceuticals Company Profile

Centessa Pharmaceuticals plc, a clinical-stage pharmaceutical company, discovers, develops, and delivers medicines for patients. Its products pipeline includes SerpinPC, an activated protein C inhibitor for the treatment of hemophilia A and B; and ORX750, an orally administered OX2R agonist for the treatment of narcolepsy and other sleep disorders.

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